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Fact.MR has published a new study titled “Automotive Tire Market Forecast, Trend Analysis & Competition Tracking: Global Market insights 2017 to 2022”, which sheds light on the overall market scenario prevailing in the automotive tire sector. Based on this assessment, the automotive tire market is likely to register steady growth during the forecast period until 2022. Some of the prime facets motivating revenue growth in the global automotive tire market include enhanced tire performance, launch of innovative products and surging tire production.
Safety is a top priority when a new baby arrives in the family, but new research commissioned by Michelin North America, Inc. (Michelin), indicates parents are overlooking a critical safety gap when it comes to hitting the road with their most precious cargo. The overwhelming majority of car-owning parents surveyed say their children’s safety is important to them, but only about a third (37%) claim to have checked their tires to ensure they are safe.
“Miles driven in the U.S. have been rising annually, and with more rubber hitting the road, tire sales have benefited, particularly in the e-commerce channel. Online dollar sales of tires grew by 34% in the 12 months ending December 2018, according to The NPD Group’s Checkout E-commerce Tracking. The tire category alone outpaced e-commerce growth for the total market of automotive products, which was up 33% for the year.”
“Winter is tough on tires: Road conditions can be brutal, and temperature swings can often mean your tires have become badly deflated, says Consumer Reports. As spring emerges, potholes often blossom and create their own risks to your tires. That makes this a great time to spend a few minutes checking your tires and making pressure corrections as needed.”
A highlight of the 49th annual Modern Tire Dealer Facts Issue is its comprehensive look at distribution channels. This year, car dealerships (8%) and warehouse clubs (9%) gained market share at the expense of mass merchandisers (13%).